Which term describes the intangible value representing the reputation of a business?

The term that describes the intangible value representing the reputation of a business is goodwill. Goodwill is an asset that arises when a business is valued more than its net tangible assets because of its reputation, brand recognition, customer relationships, and other intangible factors. It is often considered during the sale of a business or when determining its overall worth, particularly if the business has a strong reputation and consistent customer loyalty.

On the other hand, a trademark refers to a recognizable sign, symbol, or expression that distinguishes products or services, which is different from the broader concept of goodwill. Capital assets are physical, long-term assets a company uses to produce goods or services, while market value typically relates to the price that an asset would fetch in the marketplace, which may not fully encompass the intangible aspects of a business's reputation. Therefore, goodwill specifically captures the essence of a business's intangible reputation.